Up-to-the-minute advice, information, resources, and, on occasion, commentary on federal and New Jersey state income taxes, and the various New Jersey property tax rebate programs, and insights and observations on tax policy and professional tax practice, by 40-year veteran tax professional Robert D Flach.

ONCE AGAIN KAY BELL IS RIGHT ON THE MONEY!

Her topic is the nonsense of waiting to the last minute to deal with the issue of the “extenders”. What is said in this post needs to be repeated again and again.

Kay takes the words out of my mouth when she says -

“I am tired of watching this bizarre legislative Kabuki year after year, where promises are made and political mud is slung and bills are introduced but nothing happens. All the while the lawmakers in both parties swear they support the measures.

If everyone's in agreement, then just approve them and do so early in the legislative session!

The tax provisions get pushed back and eventually resolved, but the consequences are that people can't make tax plans or moves when they need to, the filing season is disrupted and no one is happy.”

As I have said before the need to pass temporary extensions of tax law year after year is totally ridiculous. If Congress thinks that the tax break is a good and necessary one they should make it permanent from day one. If they change their mind at a later date they can always repeal an item.

This is much “more better” than having to go through the process of passing an annual one-year extension – which creates confusion for the taxpaying public, makes unnecessary additional work for the IRS, delays the processing of tax returns, and wastes government dollars.

As I said in a comment on another tax bloggers site – I recently saw a show in NYC called COLLEGE: THE MUSICAL which had a song titled ”College Kids Are Idiots”. If anyone wants to write CONGRESS: THE MUSICAL it should include a song with the very appropriate title “Congresspersons Are Idiots”!

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